They will register and issue licenses to such companies, and will also allow them to open physical offices. Local firms were given six months to prepare. Brazilian President Jair Bolsonaro signed a bill to regulate the crypto industry, recently adopted by the Senate and the Chamber of Deputies. It will take effect in 180 days. During this period, blockchain companies should have time to adapt to the new rules. Brazil will allow crypto firms to register in the country and open physical offices. It will also create a new federal agency that will regulate such firms and issue “virtual service provider” licenses. Under the law, digital assets considered securities will be controlled by the Securities and Exchange Commission. The rest of the tokens (which are recognized as a commodity) will be regulated by a body that has yet to be created. Experts note that Brazilian politicians have taken a big step towards the adoption of bitcoins. After all, the new law also recognizes digital assets as an investment document. As soon as the law comes into force, Brazilians will be able to use bitcoin as a payment method, and digital assets will be recognized as a class of investment assets. Ukraine also legalized the crypto industry this year. However, we still have important laws to pass.. Yesterday, the Ministry of Digital Transformation announced that they are preparing crypto-literacy courses. They can be completed on the Diya portal absolutely free of charge. But you have to be patient – the course will take 100 hours.
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Brazil passed a law on the market of crypto-services
